Bharat Book Bureau Provides the Trending Market Research Report on “Microfluidic Devices Market (by Device Type, Material, Application, Industry, Geography), Impact of COVID-19, Company Profiles and Recent Developments - Global Forecast to 2028”under Life Sciences Market Research Report Category. The report offers a collection of superior Market research, Market analysis, competitive intelligence and Market reports.
The global Microfluidic Devices Market is predicted to reach US$ 34.5 Billion by 2028. Microfluidics is the technology that deals with the flow of liquids through microscopic channels such as chips, nozzles, and pumps. Microfluidics is à huge potential area of science which allows high-throughput screening and experimentation that revolve around a series of techniques. The technology is used for processing and manipulating small amounts of liquids using channels that possess micrometer dimensions.
With the recent advancements in the biotechnology domain, microfluidic devices promise to be of huge commercial importance. The factors, such as the rising demand for POC testing, high incidence rate of lifestyle diseases, technological advancements, increasing focus on data precision & accuracy, fast returns on investment and faster testing & improved portability through microfluidic chip miniaturization, are driving the market. Moreover, factors such as the growing geriatric population, increasing investments in the healthcare industry, rising demand for advanced technologies and the expansion of private-sector hospitals to rural areas in various countries has boosted the growth of microfluidic devices.
Recent Developments
• In April 2022, engineering researchers from Florida Atlantic University’s College of Engineering and Computer Science developed an easy-to-operate and inexpensive microfluidic chip for sperm selection to treat infertility.
• uFluidix doubled its manufacturing capacity in 2021 to meet the growing demand for microfluidics.
• In May 2021, Nuclera announced the acquisition of E Ink with an aim to expand microfluidic product portfolio by inclusion of E Ink's digital microfluidics unit.
Impact of COVID-19 on Global Microfluidic Devices Market
The COVID–19 outbreak has become a global stress test. As the number of people infected with the virus continues to rise around the world, uncertainties about global economic growth increases. The COVID–19 disease has infected around 553 Million people worldwide. Globally the death toll has reached 6,358,211 according to the latest statistics from the Worldometers (as of July 1, 2022). The number is still growing, and the duration of the pandemic is still difficult to predict. COVID-19 has positively impacted the microfluidics market. As countries work to contain the COVID-19 pandemic, the need for effective diagnostic testing has been front and center.
Microfluidics has gained a lot of attention with respect to the diagnosis of COVID-19. For instance, US-based researchers from Broad Institute have developed a CRISPR-based molecular diagnostics stage with the help of microfluidics chips to detect viruses in human samples. This single chip has the potential to detect a single virus in more than 1,000 samples at a time. With the outbreak of pandemic COVID-19 every country is increasing expenditure on healthcare, research & development, lab testing devices where the microfluidics also plays a vital role which is likely to boost the growth of the market.
By Device Type – Global Microfluidic Devices Market and Forecast
• The chips segment accounted for maximum share of the microfluidic devices market in 2021, followed by the Sensors segment.
• Micro needle system plays an important role in pharmaceutical, biotechnology and medical industries.
• Globally, the market for microfluidic pumps is gaining significant importance due to growing R&D investment in life sciences, pharmaceuticals, and increasing point of care testing demand.
By Material – Global Microfluidic Devices Market and Forecast
• Silicon and glass were the original materials first used for microfluidic applications. Silicon was first selected due to its resistance to organic solvents, ease in metal depositing, high thermo-conductivity, and stable electroosmotic mobility
• The polymers segment accounts for highest share of the global microfluidic devices market, as polymers are cheaper material and allow for quick fabrication processes in comparison to silicon and glass.
By Application – Global Microfluidic Devices Market and Forecast
• Pharmaceutical and life sciences research commands the largest share of the microfluidic devices market, followed by the Clinical and veterinary diagnostics segment.
• Point-of-care diagnostic devices founded in microfluidic technologies will lead the change to personalized medicine, thereby, having a great effect in the diagnosis and treatment of diseases.
• Drug delivery and analytical devices application segments are competing very closely with each other to grab maximum share of the pie.
By Industry – Global Microfluidic Devices Market and Forecast
• In-vitro diagnostics remained the largest segment type by industry, accounting for around 50% share of the microfluidic devices market in 2021.
• Microfluidic technologies are emerging as powerful tools for the drug discovery and development processes.
• The technological advancements in medical devices such as miniaturization, automation and enhanced functionality with help of complex electrical control, mechanical properties are major factors driving the global microfluidics medical devices market.
By Geography - Microfluidic Devices Market and Forecast
• North America accounted for largest share of the microfluidic devices market, followed by Europe.
• In Europe microfluidic devices market, Germany accounted for the largest market share in 2021.
• The United Kingdom has observed the fastest growth in the Europe microfluidics market in the past few years.
• Asia Pacific is the fastest growing market for microfluidic devices.
• It is predicted that the Middle East and Africa will account for 4% share of the microfluidic devices market by 2028.
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